MLB Player Settles Bill with IRS (Update)

A few weeks ago I mentioned former MLB player Darryl Strawberry’s ongoing issue with the IRS. In short, he owed the IRS, so the IRS announced it would auction off the rights to his deferred compensation. The auction began at $550,000 and concluded yesterday. The highest bid? $1.3 million. This equates to the full value of the annuity ($1.28 million). The IRS will collect nearly double the starting offer, which will more than cover the amount Strawberry owed, including penalties and interest. Leave it to Uncle Sam to get creative in collecting what is due.